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Monday, June 11, 2012 

Stock Trade Ideas for Tuesday, June 12th

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Arena Pharmaceuticals (NASDAQ:ARNA) hit a new 52-week high today, and its chart is indicating that there may be more upside. The stock is still trading above all its key DMAs which are pointing upwards. In addition the Accum/Dist indicator continues to trend north and MACD above 0. The Parabolic SAR also continues with its buy signal. Pullbacks should be used to enter into the stock.

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eBay Inc (NASDAQ:EBAY) has been resilient in the recent carnage. The stock is in strong hands and a close greater than $42 will trigger more upsides. The 39 level is the stop loss from a short term perspective and stock can be accumulated in declines. Upsides resistance zones are 41.4, 41.84 and 41.96.

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Zynga Inc (NASDAQ:ZNGA) closed near the 52-week low of 5.51 it hit last week. A move below this key support level should lead to further selling potential for the stock. MACD is negative and the Parabolic SAR continues with its sell signal. Bearish, no signals of turn. 

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Skechers USA Inc (NYSE:SKX) - Shares hit a new all-time high. Will watch tomorrow for continuation. Good looking chart. 

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Shares of Amazon.com, Inc. (NASDAQ:AMZN) are at a critical level in its recent uptrend. A convincing close above 221 will give it room to go for the recent high of 233. Long positions can be taken with a stop loss at 202 which should be used considering the overall bearish market sentiment.

During the day I tweet many times to my readers. I encourage everybody to subscribe AC Investor Blog  twitter and newsletter, so you can receive my trade ideas and stock news in real time.  

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting AC Investor Blog.


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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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